Kia and Rimac invest in Project 3 Mobility for European autonomous driving

Project 3 Mobility (P3) is a Croatian company focused on developing new vehicles and ecosystems for urban autonomous mobility. The company has announced the completion of its most significant investment round, which has allowed it to raise approximately 100 million euros (ca 756 millions DKK) through private investors.

Among these investors, P3 boasts giants such as Kia, but also the Croatian Rimac Group, which produces electric hypercars. The goal of Project 3 Mobility is to contribute to the development of autonomous driving in Europe, which is currently lagging behind the USA and China on this issue.

Why Kia and Rimac are investing in Project 3 Mobility

Kia and Rimac, both of which will provide technological solutions and know-how, are the two most prominent investors in Project 3 Mobility, but tied to the automotive industry is also Elaf Auto, a company based in Qatar. All these investments will enable the development and growth of the company, even though it is still in the initial phase, and we do not yet know to what extent and how Project 3 Mobility will be able to pursue its goal.

The company states that in 2023 it was able to “successfully navigate” through a series of demanding procedures and in-depth analyses, both in the EU grant approval process led by the European Commission and in the attempt to attract private capital. The goal for the next two years is to attract more private capital and start operations in Zagreb, the capital of Croatia, which will thus be the first city in the world to benefit from a Robotaxi service branded (also) Rimac.

In any case, it remains an interesting project, and since the EU seems to be finally unlocking the situation regarding autonomous driving experimentation, we hope to see other players interfacing with the company or in this world on European soil, given the increasing importance it will have in the coming years.

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